Musk has at least three Twitter problems to fix - rob_cyran -
Twitter said on April 28 that first-quarter revenue was $1.2 billion, a 16% increase compared to the same quarter last year. The company earned $513 million, or 61 cents per share compared to $68 million, or 8 cents a share in the first quarter last year. That included a pre-tax gain on the sale of an asset of $970 million.
The company also said because of an error, it overstated average monetizable daily active users from the first quarter of 2019 through the fourth quarter of 2021. In March 2019, Twitter allowed people to link together separate accounts and change between them. However, all of the accounts were counted. In the fourth quarter of last year, the company actually had 214.7 million global users under this metric, 1.9 million fewer than it had claimed.
Twitter said on April 25 that it had agreed to sell itself to an entity wholly owned by Elon Musk for $54.20 a share in a transaction valued at $44 billion.FILE PHOTO: Elon Musk's twitter account is seen on a smartphone in front of the Twitter logo in this photo illustration taken, April 15, 2022.
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